CEO turnover and bondholder wealth

We examine the impact of CEO turnover announcements on bondholder wealth, stockholder wealth, and overall firm value. Using publicly traded data for the period from 1973 to 2000, we find evidence consistent with both the wealth transfer and signaling hypotheses. Specifically, we find that CEO turnov...

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Veröffentlicht in:	Journal of banking & finance 2009-03, Vol.33 (3), p.522-533
Hauptverfasser:	Adams, John C., Mansi, Sattar A.
Format:	Artikel
Sprache:	eng
Schlagworte:	Bondholder wealth Bonds CEO turnover CEO turnover Corporate governance Bondholder wealth Chief executive officers Corporate governance Firm value Impact analysis Labour turnover Senior management Shareholders wealth Stakeholder Stockholders Studies Wealth
Online-Zugang:	Volltext
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